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Tax Season Tune Up (Completed)

Date: Friday, February 7, 2025
Instructor: Bradley Burnett
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Law Updates for EAs and OTRPs
2 hours Federal Tax Updates for CTEC

NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

This course covers exactly what you need to know to prepare 2024 tax returns. Tune up = to adjust an engine or mechanism to operate at peak efficiency (Oxford Online Dictionary) What are the exact recent tax law changes which impact the preparation of 2024 tax returns? There are plenty affecting Forms 1040 and business returns. This course dives into 2024 law changes (and 2025 law changes relating to 2024) and tunes you up to make you a well operating machine for tax season.

Topics Covered

  • In this all-new, built-from-scratch 2-hour course, we'll focus on:
    • Impacts of recent legislation on 2024 returns
    • Changes to IRS Forms that may reach out to bite you
    • All-new electric vehicle and green energy credits affecting 2024 returns
    • Major new changes to IRS virtual currency question — What we all must know
    • Choices, choices, choices re: timing of cost recovery (bonus, §179) and fresh new thought as to implications
    • Timing, timing, timing: Employee retention credit interaction with income tax returns
    • Inflation adjusted amounts for everything under the sun
    • Late breaking new guidance: Protecting statutes of limitations for refund claims
    • TCJA expirations and renewals
    • Child-related tax breaks — Follow the bouncing ball
    • SALT workaround statutes continue their day in the sun — Sort of
    • SECURE 2.0 changes immediately affecting income tax returns
    • Treasury’s and IRS’s reaction to it all

    Learning Objectives

    • To prepare the tax preparer and planner for a successful launch of tax season (preparing 2024 returns in 2025)

    Level
    Update

    Instructional Method
    Group: Internet-based

    NASBA Field of Study
    Taxes (2 hours)

    Program Prerequisites
    Basic understanding of federal taxation.

    Advance Preparation
    None

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